Sterlite net zooms on high metal prices

Base metal manufacturer Sterlite Industries said on Tuesday that it had posted a net profit of R1,100 crore in the quarter ended December 31, a 60% rise over the R687 crore it logged last year, on higher metal prices. HT reports.

Base metal manufacturer Sterlite Industries said on Tuesday that it had posted a net profit of R1,100 crore in the quarter ended December 31, a 60% rise over the R687 crore it logged last year, on higher metal prices.

According to data compiled by Bloomberg the average price of copper rose by 29% in the last quarter in London, while aluminum prices increased by 16%. The price of zinc and lead too increased by 4% each on an average.